CCA Industries, Inc Announces Year End Results
EAST RUTHERFORD, N.J., Feb. 25 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (NYSE ALTERNEXT US: CAW), announced revenues for the fiscal year ended November 30, 2008 were $57,457,946, net income was $1,412,886 and earnings per share fully diluted were $0.20. Revenues for the prior year were $60,877,867, net income was $5,537,795 and fully diluted earnings per share were $0.78.
Revenues for the fourth quarter ended November 30, 2008 were $12,048,192, net loss was $822,909 and earnings (loss) per share fully diluted were ($0.12). Revenues for the prior year's fourth quarter were $14,326,644, net income was $1,702,517 and fully diluted earnings per share were $0.24. Revenues for the fourth quarter were down because of the declining economy.
"In addition to the additional costs to operate in this economy, we increased our overall advertising expenses approximately $3,500,000 for the year, of which approximately $2,400,000 more was spent in the fourth quarter of fiscal 2008 than the fourth quarter of fiscal 2007, because we believe that a recession requires aggressive marketing. We decided that it was necessary to spend the additional advertising expenses in the fourth quarter to maintain consumer recognition for some of our brands."
"Our company is prepared for the economic challenge facing our country in 2009. We have already begun to streamline our operating costs for fiscal 2009 and to continue with productive advertising to support our products whose price points are attractive to today's price conscious consumer. Fortunately, our company has the capital necessary to meet our working capital requirements without the need of any outside financing. We therefore are confident that we will generate positive and profitable results by the end of our 2009 fiscal year," stated David Edell, Chief Executive Officer.
The Board of Directors declared a dividend of $0.11 per share payable to all Shareholders of record February 3, 2009 for the first quarter ended February 28, 2009, payable on March 3, 2009.
CCA Industries Inc. manufactures and markets health and beauty aids, each under its individual brand name. The products include, principally, "Plus+White" toothpastes and teeth whiteners, "Mega-T" Green Tea diet supplements, "Mega-T" Green Tea gum and mint products, "Bikini Zone", medicated topical and shave gels, "Nutra Nail" nail care treatments, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products, "Parfume de Vanille" fragrances, "Solar Sense" sun protection products, "Hair Off" hair removal and depilatory products, and "Wash 'N Curl" shampoos and conditioners, and "Pain Bust R II", an external analgesic product.
Statements contained in the news release that are not historical facts are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.
CCA Industries, Inc. Quarter to November 30, 2008 2007 Revenues $12,048,192 $14,326,644 Net Income (loss) (822,909) 1,702,517 Earnings (loss) per share - Basic $(0.12) $0.25 Earnings (loss) per share - Diluted $(0.12) $0.24 For Year Ended November 30, Revenues $57,457,946 $60,877,867 Net Income 1,412,886 5,537,795 Earnings per share - Basic $0.20 $0.79 Earnings per share - Diluted $0.20 $0.78 Weighted Average Shares Outstanding - Basic 7,054,442 7,029,611 Weighted Average Shares Outstanding - Diluted 7,061,646 7,058,889
SOURCE CCA Industries, Inc.
Released February 25, 2009